The amount of net income is transferred from ________ to ________.

Question

Quizplus · Accepted Answer

Net income is a component of the income statement and represents the difference between total revenues and total expenses for a period. This amount is then transferred to the statement of retained earnings, which is a part of the equity section of the balance sheet. The statement of retained earnings shows how much of the profits is kept in the company for future growth and how much is distributed to shareholders as dividends.

The Amount of Net Income Is Transferred from ________ to ________

The Amount of Net Income Is Transferred from to